External merchandise trade value in Russia 2012-2023
In 2023, Russia exported goods worth over 425 billion U.S. dollars and imported goods worth over 285 billion U.S. dollars. The country's trade balance reached 140 billion U.S. dollars, having decreased by 58.5 percent from the previous year. In response to the Russian invasion of Ukraine, Western countries imposed trade sanctions on Russia, which was reflected in the decrease in Russia's import value in 2022. However, the country's export revenue increased from 2021 due to higher commodity prices and trade rerouting to other partners.